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Thread: Future Greek and irish EIB Loan Contracts Must Be Under UK Law

  1. #16
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    Default Re: Future Greek and irish EIB Loan Contracts Must Be Under UK Law


  2. #17
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    Default Maidir Le: Re: Future Greek and irish EIB Loan Contracts Must Be Under UK Law

    Quote Originally Posted by Ephilant View Post
    "More detention centres"....

    In her interview with Skai, the leader of KKE, which has gathered more than 10 percent of popular support in recent opinion polls, once again rejected the idea of working with other left-wing parties after the parliamentary elections.
    The KKE produced a statement condemning "Occupy" and saying that the only legitimate actions in this situation are work place based trade union organisation. Thus excluding unemployed people, students, the retired and maximising control by functionaries. The Unions are important, but there's a need for people to organise together beyond Unions.

  3. #18
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    Default Re: Future Greek and irish EIB Loan Contracts Must Be Under UK Law

    This would be a good question for the EIB

    Second question. Why are British taxpayers supporting Ford’s new line of vehicles outside of the UK? This summer, the European Investment Bank (EIB) gave Ford a cheap £80m loan to develop a new line of transit vans, previously assembled in the UK, in Kocaeli. We part fund the EIB, and our chancellor George Osborne sits on its board. Conservatives themselves were raising concerns about this, including the MP for Romsey and Southampton North, Caroline Nokes:

    “Ford globally made $2.2bn profit last year. Why does it need cheap loans to subsidise it to export jobs from the UK to outside the EU?
    http://ht.ly/f7UpU
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  4. #19
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    Default Re: Future Greek and irish EIB Loan Contracts Must Be Under UK Law

    They don't just export jobs to non-EU countries.
    Ford Genk (Belgium) was closed with the loss of 15,000 jobs in one foul swoop (This is the factory that used to be Ford Cork!)
    The whole thing is closed up, and production is being move to... no, not Greece. We're still too expensive for the, and we can't be trusted to sit up and kiss both cheeks before the boss pulls his pants up again.
    The whole lot is being moved to Spain. This is after Ford agreeing in 2010 with the Belgian government (and getting grant aid to agree) that they would keep the factory open till I think 2020. Belgians are doing them for breach of contract, Ford is laughing. Mr Stephen Odell is the new CEO for Ford Europe, Africa and Middle East and has so far sacked 120,000 people... He is also the guy who "arranged" the loan

  5. #20
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    Default Re: Future Greek and irish EIB Loan Contracts Must Be Under UK Law

    This is just corporate parasites getting their mates in government to arrange access to taxpayer funds while they arrange to have profit shipped into the tax free series of tunnels internationally and foist all costs on the 'host' nation.

    It is actually parasitism.

    Going back to the subject of the thread the reason that the Troika insist on any bailout deals being held under 'English' law is to avoid the possibility for example of a Tsipras led government in Greece deciding to have the bailout programmes declared illegal under Greek law and defaulting.

    If I remember correctly Greek debt was originally something like 70% governed by Greek law- that is that the government were obtaining debt under Greek law when selling government bonds and so on.

    The Greek government- any Greek government has no power to default on borrowings under English law which protects property rights above all else and Greek borrowings are property under English law which means that lenders can sell on to vulture capitalists and pursue Greece not just for every penny under international law but can also add charges of their own.

    There have been something like 60 national defaults since World War II around the world I believe and the reason that some countries CAN default or even part default by extending bond maturation terms unilaterally as Uruguay once did, is where they have control or the big stick of default over loans in the defaulting country's laws.

    Two things make distressed national debt attractive to vulture funders operating out of the US or behind various tax havens- the rock of a country not being able to devalue its own currency (this applies to Eurozone countries automatically) and the debt being secured in 'English' law.

    The Troika for example when Ireland effectively applies for a second bailout (otherwise disguised as an 'adjustment' of Irish debt and which will be presented as a renegotiation to the Irish taxpayer by its Vichy government and Michael Noonan) any bailout will be written as governed by 'English' law to effectively prevent that debt ever being defaulted on.

    Those are the kind of deals Brian Lenihan was signing with the Troika and which Noonan will be signing in due course.
    Think National. Act Local. Oh- and superstition is just the dark matter of human history.

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